Argus raised the firm’s price target on Coca-Cola Europacific Partners (CCEP) to $102 from $97 and keeps a Buy rating on the shares after its Q1 results. The company has been able to restore volumes to pre-pandemic levels, and the firm anticipates continued volume growth as the company actively manages its pricing and advertising strategies to reach and maintain its consumers, the analyst tells investors in a research note. Argus adds that it also expects earnings to benefit from continued expansion into the APS region with the acquisition of Coca-Cola Beverages Philippines.
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